The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1887-10-27

HOW TO Get RICH.
Cen. Suffers Advice TO Would-be
Thrifty Young Men.
The Boston Herald prints the fol-
lowing letter from Gen. Benjamin f.
Butler:
BosToN. Mass. Aug. 20. 1887.
DEAR SIR: have received your
note asked me to write some practical
hints for young men Oh the acquire.
ment OF wealth, which may be publish
ed.
A difficult task is set me, as the cir
cumstance under which young men
commence life are 50 widely varied.
But think that more young men fail
IN tho investment Of what they earn
Or receive that in any other way to
acquire property. The temptations
to speculate are 50 great, and the de.
sire to become suddenly rich so strong.
that believe eight out of ten. if Lot
more, OF young men are wrecked at
the very beginning.
ia young man is earning something
more than the expense Of his living
and has no object in view, he is likely
either to increase those expenses care
lessly or to loan his money to his
friends, and in so doing in the major
ity Of cases he will lose both friends
and money, so that the best thing he
can do is to have an object, to gather
his money. and have a call for it
which shall be profitable one. He
makes no investment because he says,
II have got 50 littlo money that It
won't come to anything. l will wait
until get more;" and in waiting, gen:
orally; what he mas goes.
When u young man has q very little
money let him buy some property,
preferably piece, however small, &C.
cording to his means, of improved
real estate that is paying rent. He
had better buy it when sold at auction,
under a judicial sale, paying cash what
he can, giving his note for the balance
in small Gums coming due at fre-
quently recurring intervals, Sc
cured by a mortgage on
the property, and then use all his ex-
ira income in paying up those notes.
1t is always safe to discount your
own note, and II the notes come lit.
tie too fast as soon as he gets any
thing paid his friends will aid him
when he is putting his money where it
cannot be lost, and where the proper
tv is taking care OF the interest, and
in a very short time he will find that
he has got very considerable invest
ment. He will become interested in
1t, save his money to meet his notes.
and he will directly come into con.
siderable possession of property and
hardly know how it came to him.
That is, he will have had motive for
saving. and will get the result of that
saving, and will not be tempted to ell
ter into speculations. Nothing is so
safe for an investment as improved
real estate. Nothing is likely to grow
in value faster. In the last so years
90 per cent. of all the merchants and
traders in Boston have failed. In the
last fifty years 80 per cent.
OF all the business corpora
tions have failed or gone out of bust
ness, so that their stock has been
wiped out. In the last fifty yeare all
the improved real estate on the aver
age has paid it's interest and taxes and
quadrupled in value. liza young mans
father can give him anything to start
him in the world he had better invest
it in that way and let it accumulate
and earn his living and he will be rich
er than if he had gone into business.
Jay Gould is said to have started
from g. mouse trap seller to become a
millionaire. Assuming that to be true,
he is only one of 90, 900, 900 of people;
and If any young man thinks that he
is going to initiate Jay Gould, there
are 100000 chances to one he
won't succeed.
The rule would lay down for a
young man Is never do q mean thing
for money. Be prudent and saving 81
your money. Be careful to have no in.
terest account running against you
unless you have an equal or greater
interest account running in your ia.
vor. Work diligently and you
are sure of g. competency
in your Old age, and as early as pos
sible, if you can, find a saving, pru-
dent girl who has been brought up by
a mother who knows how to take
care OF house and make q wife of her,
she will aid and not hinder you.
l claim no originality in this advice
and will relate you an incident in nv
own experience to illustrate it: In my
earliest practice in my profession l
was quite successful in earning money,
and had a small balance in the Lo-
we'll bank, at the head of which was
Mr.. James G. Carney. The bank was
directly across the hall from my office.
| stepped into the bank to deposit a.
little money on one occasion, and
Mr.. Carney said to me: ''Why don't
you invest your money!" '.invest,"
said I; II have nothing to invest"
"Oh, yes" he says, you have quite
q little sum of money, and see that
your young friends come with your
checks occasionally, evidently borrow
ing it. Now you had better invest it"
"How can invest it?" ''1nvest it in
real estate" Il know nothing about
real estate" "Go to the first auction
and buy the property. You cannot
be too much cheated in that
betause you have to give
very little more than some
body else will be willing to pay for it.
Give your notes for it, save your
money, collect your fees, pay your
notes as they become due. See that
the property is improved property, so
that tho rent will keep down your IN
terest account, and when you get any
other money invest it i'll the same
way, and If your notes press upon you
a little faster than you can pay them,
why, we will when We find that is what
you are doing with your money. dis.
count your note and give you a little
more time, so that you can pay it up.